Tuesday, October 16, 2012

Headlines for October 16

Farmers’ group calling for more competition in processing sector: “With only two players in the industry controlling 80 per cent of the national capacity, it’s obvious. Those two players have undue influence on the rancher and the farmer and even the consumer,” Well said. But that's only half the equation. The next part in this line of reasoning is realizing that government's can't (and won't) help.

New $20 banknote costs Bank of Canada a pretty penny:Just another reason to abolish the Bank and return to competing currencies.Loblaw cuts 700 Toronto head office jobs: Good for them. When I worked for Loblaws for a bit I discovered that Mises was right. When heavy government intervention is involved (subsidies, regulations, forced unionization etc.) the corporation becomes bureaucratic and disconnected to consumer (and worker) needs. Bank of Canada's Boivin named as G20 finance deputy: "Before joining the bank, he was an academic and had published widely, including a paper that he co-authored with U.S. Federal Reserve Chairman Ben Bernanke." Oh that's great. "The bank said it will soon begin the process of finding a replacement for Boivin on its six-member governing council, which sets monetary policy." I'm sure the Loonies will be calling for an election to replace Boivin, and a "democratic" six-member governing council.

Over 137 million cigarettes sold tax-free last year:“And those numbers don’t include illegally imported cigarettes,” That's great news! Let's aim higher for next year! (And let's aim for more than just cigarettes. Why not sell all goods and services tax-free, as well as allowing individuals to earn income tax-free?)